Disappointed with preliminary 2005 financial results, Volkswagen Group announces a sweeping restructuring initiative that could render jobless as many as 20,000 workers. While Volkswagen AG says in a statement that it “stands by” a 15-month-old collective agreement with the IG Metall trade union that represents European hourly employees, the auto maker will seek a new round of talks focused on “implementing productivity and structural improvements.” The auto maker wants: The ...
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